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More Tourism Incentives for Nicaragua

Article Summary:

The proposed amendment to Law 306, Law of Incentives for Tourism Industry, which has been unsuccessfully promoted by the private sector for two years, will be taken up by the Government after an analysis of the current situation of tourism in Nicaragua.

Photo Credit: El Nuevo Dario

Original Article Text From El Nuevo Dario via Google Translate :

Reform revive Tourism Incentives Act

The proposed amendment to Law 306, Law of Incentives for Tourism Industry which has been unsuccessfully promoted by the private sector for two years, will be taken up by the Government after an analysis of the current situation of tourism in Nicaragua.

The deputy Pedro Joaquin Chamorro, president of the Tourism Commission of the National Assembly, met yesterday with representatives of the industry to define different topics to be discussed in Parliament.

Since mid-1999, Nicaragua has a law that seeks to promote the development of its tourism industry. This regulation provides a number of incentives, however, does not include some segments such as residential and medical tourism for foreigners.

Lucy Valenti, a member of the National Chamber of Tourism, Canatur, said the need to reform the law came about through the development of new tourism activities that were not covered by the current legislation.

Act 306 establishes a minimum investment of U.S. $ 50,000 to apply for tax incentives, which is beyond the scope of micro, small and medium enterprises. The reform proposal is that the new minimum is U.S. $ 10,000.

“The issue of residential tourism, incentives for integrated projects incorporating hotels, activities, tourist services, and also a residential area as a resort. Incorporate the subject of medical tourism, solve some gaps in the Act relating to the Board of incentives, are some of the approaches to resolve, “said Valenti.

Missing Marine Act

Also discuss the need for a Marine Act, aimed at a high-class segment.

“We raised the need for Marine Act, because it is an important segment. There are projects, but Nicaragua is not being competitive, because there are a number of fees and charges levied irregularly shaped vessels that enter (the country), with no sense, above other countries in the region, “said Valenti .

Deputy Chamorro said that this law will allow Nicaragua to compete with tourism “high end”.

“For people who have to come to Nicaragua yacht, staying on a temporary permit, ie, not having to pay an entry tax by the yacht, because that is not going to stay in the country. It’s people coming for a while and goes and leaves strong revenues, “said Chamorro.

Link to Original Article:

From El Nuevo Dario

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